八荣八耻 (ba1rong2ba1chi3)
Eight Do’s and Don’t’s
Chinese President Hu Jintao recently called on the whole nation and particularly young people to adopt the “socialist concept of honor and disgrace,” also known as “Eight Do’s and Don’t’s.” The list reads: “Love, do not harm the motherland; Serve, don’t disserve the people; Uphold science; don’t be ignorant and unenlightened; Work hard; don’t be lazy and hate work; Be united and help each other; don’t gain benefits at the expense of others; Be honest and trustworthy, not profit-mongering at the expense of your values; Be disciplined and law-abiding instead of unruly and lawless; Respect plain living and hard struggle, do not wallow in luxuries and pleasures.”
蕾丝边 (lei2si2bian1)
lesbian
The Chinese term is basically a transliteration of the English word “lesbian,” but with a much more vivid image as it literally means the fancy laces of women’s stockings, petticoats, pajamas and bras.
倒按揭 (dao4an4jie4)
reverse mortgage
The city has been considering the introduction of a reverse mortgage program to help cope with the growing problem of an aging society. The program, also referred to as a home equity conversion loan, first appeared in New Jersey of the United States more than 20 years ago. It was designed to allow seniors to access the equity in their homes.
驴友 (lu2you3)
tour pals
The literal translation, “donkey pal,” sounds the same as the Chinese word for travel. It refers to the increasing number of backpackers who team up for budget tours after making the arrangements over the Internet rather than through a travel agency.
口水歌 (kou3shui3ge1)
resung song
Some mediocre singers have to sing the hit songs of pop stars or well-known folk songs to attract an audience and build their way to stardom. Such resung songs are also popular with karaoke goers as they are usually within ordinary people’s singing capability.


学汉语不用这么累~
On the topic of 蕾丝边, in Taiwan a slang term for gays (used in the gay community there) was 同志 tong2 zhi4, literally “comrade.” Obviously this wouldn’t apply to Mainland China.